ZILLOW GROUP INC
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 15, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Property and Equipment, net
Note 6. Property and Equipment, net
The following table presents the detail of property and equipment as of the dates presented (in millions):
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Website development costs | $452 | $291 |
| Leasehold improvements | 48 | 90 |
| Office equipment, furniture and fixtures | 20 | 24 |
| Computer equipment | 19 | 18 |
| Construction-in-progress | — | 7 |
| Property and equipment | 539 | 430 |
| Less: accumulated amortization and depreciation | (211) | (159) |
| Property and equipment, net | $328 | $271 |
We recorded depreciation expense related to property and equipment (other than website development costs) of $24 million, $25 million and $26 million during the years ended December 31, 2023, 2022 and 2021, respectively.
We capitalized $191 million, $143 million and $82 million in website development costs during the years ended December 31, 2023, 2022 and 2021, respectively. Amortization expense for website development costs included in cost of revenue was $110 million, $67 million and $36 million for the years ended December 31, 2023, 2022 and 2021, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.